MonkDonk

Speculators Continue to Drive Oil Higher at Risk of Global Recession

Oil is a non-renewable resource, eventually we will run out of it.
Here is an interesting chain of events that nobody likes to talk about...
1. In 2000, an orbiting space probe discovered evidence of water flows on the surface of Mars. This supported a long held belief that channels and rivulets on Mars surface were created by running water long ago. Water means that life may have existed.
2. Oil is formed from the remains of animals and plants living in a water environment. Over time, the layering of sediment over the remains combined with heat and pressure result in petroleum deposits.
3. Methane was discovered in the Martian atmosphere by the European Mars express orbiting spacecraft. Methane is a hydrocarbon and has been thought to originate, as petroleum, from dead organisms. In the 1990s, a different theory was introduced suggesting that coal and oil may actually derive from methane (usatoday.com/tech/...).
4. In 2000,NASA, in conjunction with the Department of Energy and engineers from the oil and gas companies, band together to invent a robotic drill to drill "the water" from within Mars. (space.com/sciencea...)
5. In 2004, George W. Bush delivers a speech at NASA touting the exploration of the moon, Mars and beyond in the quest for valuable "resources".
6. In 2006, the prototype of the Mars drill is completed and tested.
My point is the government appears to believe that large reserves of petroleum might exist beneath the surface of Mars. Their efforts are clearly aimed at drilling Mars for "useful resources." How will they get the oil back to earth? I don't know. This may seem farfetched but then again look who's president.

Energy Subsidies and Levels of Demand

Oil is a non-renewable resource, eventually we will run out of it.
Here is an interesting chain of events that nobody likes to talk about...
1. In 2000, an orbiting space probe discovered evidence of water flows on the surface of Mars. This supported a long held belief that channels and rivulets on Mars surface were created by running water long ago. Water means that life may have existed.
2. Oil is formed from the remains of animals and plants living in a water environment. Over time, the layering of sediment over the remains combined with heat and pressure result in petroleum deposits.
3. Methane was discovered in the Martian atmosphere by the European Mars express orbiting spacecraft. Methane is a hydrocarbon and has been thought to originate, as petroleum, from dead organisms. In the 1990s, a different theory was introduced suggesting that coal and oil may actually derive from methane (usatoday.com/tech/...).
4. In 2000,NASA, in conjunction with the Department of Energy and engineers from the oil and gas companies, band together to invent a robotic drill to drill "the water" from within Mars. (space.com/sciencea...)
5. In 2004, George W. Bush delivers a speech at NASA touting the exploration of the moon, Mars and beyond in the quest for valuable "resources".
6. In 2006, the prototype of the Mars drill is completed and tested.
My point is the government appears to believe that large reserves of petroleum might exist beneath the surface of Mars. Their efforts are clearly aimed at drilling Mars for "useful resources." How will they get the oil back to earth? I don't know. This may seem farfetched but then again look who's president.

Can Saudi Arabia Push Down the Price of Oil?

Oil is a non-renewable resource, eventually we will run out of it.
Here is an interesting chain of events that nobody likes to talk about...
1. In 2000, an orbiting space probe discovered evidence of water flows on the surface of Mars. This supported a long held belief that channels and rivulets on Mars surface were created by running water long ago. Water means that life may have existed.
2. Oil is formed from the remains of animals and plants living in a water environment. Over time, the layering of sediment over the remains combined with heat and pressure result in petroleum deposits.
3. Methane was discovered in the Martian atmosphere by the European Mars express orbiting spacecraft. Methane is a hydrocarbon and has been thought to originate, as petroleum, from dead organisms. In the 1990s, a different theory was introduced suggesting that coal and oil may actually derive from methane (usatoday.com/tech/...).
4. In 2000,NASA, in conjunction with the Department of Energy and engineers from the oil and gas companies, band together to invent a robotic drill to drill "the water" from within Mars. (space.com/sciencea...)
5. In 2004, George W. Bush delivers a speech at NASA touting the exploration of the moon, Mars and beyond in the quest for valuable "resources".
6. In 2006, the prototype of the Mars drill is completed and tested.
My point is the government appears to believe that large reserves of petroleum might exist beneath the surface of Mars. Their efforts are clearly aimed at drilling Mars for "useful resources." How will they get the oil back to earth? I don't know. This may seem farfetched but then again look who's president.